US Revenge Tax: Who Really Pays?
Hello! Today, I've brought this topic to you! We're diving into a fascinating, somewhat obscure, but potentially powerful corner of American tax law. Ever heard of a "revenge tax"? Well, the U.S. actually has a provision that allows for just that, aimed at foreign nations deemed "unfriendly" in a business sense. It sounds like something out of a historical drama, and in fact, it is! Let's unearth the story of Section 891 and discover who really ends up footing the bill. ☆ Topic 1: The Ghost of Taxes Past: France and the Birth of Section 891 Believe it or not, the origin of America's "revenge tax" provision, known as Section 891, can be traced back to... France! Yes, the 1930s saw U.S. Congressmen grumbling about "nations throughout this world who are not particularly friendly to Uncle Sam in a business way." The main culprit? France. Back then, France was dragging its feet on ratifying a crucial tax treaty, leading to America...